The $USDC CRCL stablecoin bill has been passed, marking a milestone in what is being called the year of cryptocurrency legislation. Stablecoins have officially been incorporated into the financial regulatory system, enhancing compliance expectations, benefiting compliant platforms like CRCL and Coin, but also increasing regulatory pressure on decentralized projects. The U.S. Treasury will release implementation details within the next 90 days, and by the end of 2025, stablecoins will officially enter the compliant market, impacting the global flow of U.S. dollars and becoming a hot topic for a long time to come.